St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-17
The baltimore & Ohio.

New YORK, March 16.-A gentleman
known 20 be in the confidence of Alfred
Sully tonight authorized the following
statement:
The Baltimore s. Ohio matter is in abey-
auce. There are really no new DEVELOPMENTS
nor probably will there be for some time
Such Il transaction as the one that has been
given so much publicity cannot be carried
through in a day Or week, and if suddenly
consummated would perhaps have bad eff
1ect upon securities generally in this unset
tied condition of the market. Large proper
ties cannot be acquired without Investigating
into their condition and all the surrounding
circumstances and it is not to be supposed
that any transaction of the nature could
differ from the natural laws of business.
If anything is done in this matter
it will take time to carry it
out and there cannot be any result reached
for the present. The Baltimore & Ohio prop
erty, by reason of its geographical position
and its connections is valuable, ard no doubt
many would be glad enough to control it.
But, rs Mr.. Bryce has already stated, it is Dot
at all likely that Mr.. Garrett would make any
arrangements with any person or parties
looking to a sale of the Baltimore s. Ohio I'M
less it meant a combination or close alliance
with the terminal companies system of South
ern roads MIR. Garrett is a large real estate
owner in Baltimore. He is interested in
building up Baltimore, and whatever he may
well
as of the Baltimore g. Ohio.
PHILADELPHIA, March 16.-The Ledger
tomorrow will say:
In reference to the matter of the sale of the
majority of the common stock of the Bati-
more Ohio which carries with it the con-
troll OF that company. we are Informed by an
authority that is direct FROM President Rob-
ert Garrett that in the proposed sale the in
terestS of the city OF Baltimore and the MAIN
1enulce of the trade of that CITY are q he
fully cared for by placing the Balti-
more & Ohio road at the head of a new
railroad combination, which will enlarge
and improve the southern and western trade
connections OF the city, and also to that ex-
tent aiding and improving the commercial re-
lations OF Philadelphia. We are further in
formed that whilst the original arrangement
by which Alfred Sully might have had con-
troll OF the new combination was not carried
out, Mr.. Garrett has at present another ar
rangement satisfactory to himself with q syn
dictate of railroad managers and bankers, VINO
have already fixed upon the price to be paid
for the stock and the terms of payment, but
certain details are TO be arranged which will
fully protect the shareholders of the railroad
and the material interests of tie city
OF Baltimore, and also secure an out
let by an Independent and untram-
meled line through to New York. In the
new arrangement the Baltimore & Ohio, so
far from having its Identity sunk, will be at
the head of the combination, with Mr.
Garrett as executive chief of the organiza-
ton. We are also TO understand that under
no circumstances Will the transfer or control
of the Baltimore d Ohio telegraph system
pass into the hands of Jay Gould. The adj
justment of all the details will probably take
considerable time, and will not be permitted
to be consummated in q hurry, so that every
thing may be placed upon a basis satisfactory
to the shareholders and to the public inter-